SVN Live 03.22.21 Weekly Property Broadcast
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The document provides an update on the CDC eviction moratorium ruling, which was deemed unconstitutional by a federal judge, following criticism from landlord advocates and is expected to have negative repercussions for renters. It highlights various property sales, detailing prices, sizes, zoning, and notable features of multifamily, retail, industrial, and land listings. The document also includes information about upcoming events and webinars related to the SVN organization.
SVN Live 03.22.21 Weekly Property Broadcast
- 1. WEEKLY PROPERTY BROADCAST March 22, 2021
- 3. www.svn.com PAGE | CDC EVICTION MORATORIUM ● On Friday, February 26th, a federal judge ruled that the CDC enacted moratorium on evictions was unconstitutional. Initially instituted during the Trump Administration in the Fall, the moratorium was extended through September by President Biden via executive action on March 31st. ● The measure had been criticized by many landlord advocates, arguing that the CDC had overstepped its authority in issuing the moratorium, while some economists questioned the effectiveness of it as a relief tool for renters. Tenant advocates who criticize the recent ruling argue that it will trigger a flood of evictions and is ill-timed given the recent winter storm that has imperiled millions across the State of Texas. ● According to a report released by the Urban Institute in January, an estimated 3.3m people, which represents 4.7% of all renters, reported receiving an eviction notice or threat of one since the beginning of March 2020. ECONOMIC UPDATES PROVIDED BY
- 4. CLOSED DEALS
- 5. Sale Price $ Size Price /Acre $ Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. LAND | 25405 SHORE DRIVE | PUNTA GORDA, FL SVN | Lotus ASHLEY BLOOM ashley.bloom@svn.com 941.961.7109 RON ZEIGLER ron.zeigler@svn.com 941.350.9636 HUNTER MCCARTHY hunter.mccarthy@svn.com 941.421.9569 MARGEAUX MCCARTHY mvmccarthy@svn.com 401.688.0822 1,200,000 • 9.34 waterfront acres with multifamily zoning • Army Corps of Engineers and Southwest Florida • Water Management District permits are active • There are permits for 21 wet slips and dockage • 2,200+/- linear feet of water frontage • Years of costly permitting work in place 9.34 Acres 128,480
- 6. Sale Price $ Size Price /SF $ Cap Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. RETAIL | 1717 ASHMUN | SAULT STE MARIE, MI SVN | Investment Property Advisors DAVID DE MAAGD, CPA, MBA david.demaagd@svn.com 616.399.3955 1,340,000 ● Portfolio purchase ● Very near US/Canadian Soo Locks - Michigan Upper Peninsula 8,400 SF 160 7.69%
- 7. Sale Price $ Size Price /SF $ Cap Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. RETAIL | 432 THAIN ROAD | LEWISTON, ID SVN | Intermountain Investments, Inc. HEIDI MICKELSON, SIOR, CCIM heidi.mickelson@svn.com 208.861.9982 1,370,000 • Sold at 98% of asking price • List to close in approx. 90 days • NNN lease with 7 years remaining and two 5-yr. options • Multiple transactions with seller • Idaho Youth Ranch is a regional non-profit that runs 18 thrift stores throughout Idaho and Oregon 16,000 SF 6.62% 86
- 8. Sale Price $ Size Price /SF $ Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. OFFICE | 2150 FIRST ST | FORT MYERS, FL SVN | Lotus BRYAN MYERS bmyers@svn.com 239.246.5380 1,430,000 • Income-producing development site • Zoned for multi-family use • Multi-tenant retail/office plaza • 10,657sf Total leasable area • West First Street frontage • Abundant parking • Steps from Publix, Subway, First Watch, Bennett' s and other retail and restaurant amenities 10,657 SF 134
- 9. Sale Price $ Size Price /SF $ Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. MULTIFAMILY | 800 S LEAVITT ST | CHICAGO, IL SVN | Chicago Commercial ANGELO LABRIOLA angelo.labriola@svn.com 312.676.1870 PAUL CAWTHON paul.cawthon@svn.com 312.676.1878 1,482,500 • Off-market transaction • Previously listed with another broker (SVN toured 1 client) • Extremely well-maintained brick corner property • Adjacent to the Illinois Medical District • Great mix of 1, 2 & 3 bedroom units 6,700 SF 221
- 10. Sale Price $ Size Price /SF $ Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. INDUSTRIAL | 300 RELIANCE ROAD | FEDERALSBURG, MD SVN | Miller Commercial Real Estate HENRY HANNA, CCIM, SIOR henry.hanna@svn.com 410.543.2420 WESLEY COX, CCIM wesley.cox@svn.com 410.543.2421 2,700,000 • Manufacturing facility on 21.31 Acres • Original Bakery Plant, then Wood Chip Facility • Buyer is in Medical Cannabis • Sold this facility to current seller in 2017 109,078 SF 25
- 11. Sale Price $ Size Price /SF $ Cap Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. RETAIL | 4151 MCCOY DR | AURORA, IL SVN | Landmark Commercial Real Estate JOEL MILLER, CCIM joel.miller@svn.com 630.270.6949 2,758,599 • 40% occupancy at closing • 5.75% CAP on in-place cashflow | Pro-forma 22% CAP • Pre-auction bid with extended closing to allow for financing 44,300 SF 62 5.75%
- 12. Sale Price $ Size Price /SF $ Cap Transaction Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. MULTIFAMILY | 215 S CHURCH STREET | NEWBERG, OR SVN | Imbrie Realty BETH DUPONT beth.dupont@svn.com 503.329.8988 5,800,000 • 18 units, townstyle apartments, consisting of four 2/B/2B and fourteen 3/B/2B • Built in 2013 • All units have garages • Stainless steel appliances • Kept in immaculate condition by owner • 100% occupied at time of sale • No deliquent rental payments due to COVID-19 21,083 SF 4.80% 275
- 14. Price $ Buy Side Fee $ Size Price/Acre $ Property Highlights Property Details 50% OF THE COMMISSION | 100% OF THE TIME* | THE SVN DIFFERENCE *For qualified transactions, 50% of the gross commission to the buy side. All SVN® offices are independently owned and operated. © 2020 SVN International Corp. LAND | 28071 HIGHWAY 109 | LA JUNTA, CO SVN | Denver Commercial JEFF HEINE jeff.heine@svn.com 303.937.4492 1,900,000 • 300+ acres with over 30 functional buildings • Adjacent to regional airport • Utilities already serviced to site • Potential uses include: corporate training center and retreat, educational facility, law enforcement training, 'bug out' community, and much more 66,500 319.21 Acres 5,952
- 15. www.svn.com PAGE | March 22nd-28th, 2021 EVENTS & WEBINARS TUESDAY MARCH 23 SFR Product Council Meeting 8:30am PT | 11:30am ET WEDNESDAY MARCH 24 2021 SVN Awards Celebration 1:00pm PT | 4:00pm ET
- 16. www.svn.com PAGE | Please visit www.svn.com for more information on the properties featured on today’s call and to view all of SVN’s active listings. DISCLAIMER This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. All SVN® offices are independently owned and operated. Thank You For Joining Us!